RUKMINI DEVI

INSTITUTE OF
ADVANCED STUDIES

Concept, Nature,
Principles &
Functions of
Management
Concept of management
 Every individual works in the organized group to
achieve what he can’t achieve individually
 Management is an essential part of any group
activity. Group can be:-
Family
Play group
Work group
School
Business firm
A government
 Management is universal process
 Wherever there is human activity, there is
management
Traditional Definition
 “Management is the art of getting things
done through people. A manager is one
who accomplishes organizational
objectives by directing the efforts of
others.”
Management is an important part of any goal oriented activity.
Every organization require to plan its action, organize the
resources, set a channel of communication, direct & lead the
people and control their activities to achieve its goal.
Modern Definition
 Management is the process of getting
things done with the aim of achieving
organisational objectives effectively and
efficiently.
 Modern authors defined it as a process of accomplishing certain
objectives through utilization of human and other resources. It is a
process of getting things done with the aim to achieve organization
objectives effectively and efficiently.

“ Management is creation and maintenance of an internal

environment where individuals working in a group can
work effectively and efficiently to meet the group goal.”
by Harold Koontz
Modern Approach

Management is the process of getting things done effectively and

efficiently through and with other people to achieve the organizational
goal. Elements involved are
 Process: Activities involved in getting the things done.
Effectiveness: Completing the assigned task with the time period.
Efficiency: Optimum utilization of resources .

Effectiveness Efficiency
Task on time Task with min cost
Result centric Optimum utilization of
resources
Management as a process:
Management is considered as a process because it involves series of functions which lead
to attaining organization objectives. It is a never ending and a continuous activity which
works towards achieving the goals of the organization.
The process of management consist of 5 Elements:
Planning Organizing staffing,
directing controlling
Features of Management

 Goal Oriented : The purpose of management is to achieve the goal, any activity
has to have a pre – defined goal. The success of managers is assessed through the
efficiency of the task.
 Continuous process : it is a on going activity to forecast, plan, execute the plan,
organize manpower and material resources, direct the activities and control the
activities of these resources.
 Coordinative Force
 Intangible
 Group Activity
 Accomplishes result through cooperative efforts
 Balances effectiveness and efficiency
 Science as well as Art.
 Dynamic
 Pervasive & Universal
Objectives of Management

• Optimum utilization of resources

• Minimizing the element of risk
• Improving performance
• Growth and Development of business
• Provide Better quality goods
• Ensuring regular supply of goods
• Discipline and Morale
• Research and Development
Importance of Management

 Accomplishment of Goals
 Effective utilization of resources
 Minimization of cost to combat competition
 Increased profit
 Sound Organisation
 Provides Vision & Foresight
 Harmony in Work
 Development of Society & Nation